Nebraska’s leading economic indicator saw an increase in May, according to a recent report from the University of Nebraska-Lincoln. The indicator, which is designed to predict economic activity six months into the future, rose by 0.26% in May.
The monthly report suggests that the Nebraska economy will grow in the second half of the year, says Eric Thompson, director of the Bureau of Business Research. The six components of the indicator include business expectations, building permits for single-family homes, airline passenger counts, initial claims for unemployment insurance, the value of the U.S. dollar, and manufacturing hours worked. Four of these components improved in May, with Nebraska manufacturing hours worked seeing growth due to strong demand for food products.
Business expectations were also positive in May as respondents to a survey reported plans to increase sales and employment over the next six months. Additionally, there was a small increase in airline passenger counts during the month as well.
To stay updated with daily digest and breaking news alerts from KSNB Local4, you can subscribe to their email newsletter. The full report and a technical report describing the indicators can be found on the Bureau of Business Research website. Copyright 2024 KSNB Local4 All rights reserved